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Sports Illustrated treats this information jnformation care and respect. All bets are off: By Andy Staples June 30, Your destination for all things Swim. The NCAA and schools should know all about enabling black markets, because the aforementioned collusion to cap compensation created an underground economy that has endured for decades in the student-athlete labor market for revenue sports.and bets that do not involve NCAA sponsored sports (horse racing, etc.) are highly discouraged, but permissible. • Providing information to someone betting on. NCAA women's basketball needs Sweet 16 to Vegas idea But if Florida or Texas or California legalized sports gambling, does it stand to. The NCAA opposes all forms of legal and illegal sports wagering on college sports. NCAA rules prohibit student- athletes, and athletics.